Actor Johnny Depp Selling Entire French Village
Actor Johnny Depp – known for his roles in Pirates of the Caribbean and Charlie and the Chocolate Factory, among many others – has just put an entire French village up for sale.
According to the Los Angeles Times, Depp is selling the 27-acre estate called Plan de la Tour for close to $26 million.
The property, which boasts more than a dozen buildings, is located approximately 17 miles from Saint Tropez and was initially purchased by Depp in 2001. In his time as owner, Depp has spent $10 million on updates.
Image via Wikimedia Commons/Patricia.fidi
Bank of America and Citigroup Funding Affordable Housing in New York Settlements
New York Attorney General Eric Schneiderman announced on Wednesday that Bank of America Corp. and Citigroup Inc. will be providing $75 million to rehabilitate 2,200 rental units statewide.
The hefty sum is part of a settlement stemming from an agreement to help resolve mortgage-bond practices that led to the 2008 financial crisis.
“New Yorkers were hurt in many ways by the housing crisis,” Schneiderman said. “My office has been creative in finding new ways to help New Yorkers recover.”
Image via flickr/Rob Young
Auto Sales Set for Big Second Half of the Year
Industry experts are preparing for a big second half of the year after auto sales soared higher than expected in the first six months of 2015.
"A couple of months ago we thought sales would start to level off and maybe pull back, but now we've changed our forecast," Jeff Schuster, Senior Vice President of Forecasting for the consulting firm LMC Automotive, told CNBC.
With the average vehicle in the U.S. clocking in at over 11 years old, we are starting to see many people taking advantage of the relatively strong economy and low unemployment rate to finally take the plunge on a new car.
Image via flickr/Emilio Labrador
Freddie Mac Reminder: Financial Help with Down Payments Is Available
Freddie Mac VP Danny Gardner shared a brand new blog post on the company’s website on Wednesday morning reminding potential homebuyers that there is help out there when it comes to finding the funds for a down payment.
Gardner, who’s official title is Vice President of Single Family Affordable Lending and Access to Credit, understands that a 20 percent down payment can be difficult to come by for many people and explains in his article that “many state, county, and city governments offer financial assistance to people in their communities who are well qualified and ready for homeownership.”
According to Gardner, the three main types of assistance are grants, second mortgage loans and tax credits.
“Depending on the program, assistance may be limited to first-time homebuyers and/or low- and moderate-income buyers,” he added. “And homebuyer education counseling may be required.”
Image via flickr/Tax Credits
CNBC Uncovers America’s Most Expensive States to Live In
On Friday, CNBC revealed the most expensive states to live in in 2015.
According to the news source, Hawaii topped the list, with California and New York following closely behind.
“The Ahola State is living proof that you get what you pay for,” the report states. “The quality of life in Hawaii is second to none.”
In addition to many foods costing more than twice what they would cost on the mainland, the average home price in Honolulu Metro is $868,317.
Image via flickr/Ricymar Photography
Rental Demand Likely to Hit Historic Highs This Decade
It’s no secret by now that rental prices have been skyrocketing nationwide for months upon months.
Now, CNBC financial reporter Diana Olick has taken another look at the rental market and found that – despite the growing costs – rental properties are becoming more in-demand than ever before, suggesting that we’re likely to see a record high number of renters by the end of this decade.
“Surprisingly, it will not all be driven by millennials,” Olick explained. “So far, households aged 45 to 64 have accounted for twice the share of rental growth as households under the age of 35. So as we talk about higher rents, it’s the middle-aged middle-class that’s getting squeezed too.”
Image via flickr/hearingpocket
California Experiencing Hot Housing Boom
Million Dollar Listing star Josh Flagg joined a panel of CNBC reporters on Squawk Box on Thursday and revealed that California is currently experiencing a housing boom – particularly in the million dollar housing market.
According to Flagg, large home sales have continued to increase by three percent month-over-month for the last several months, making the Golden State an even hotter area to buy right now than New York City.
“I think people in Los Angeles in specific have come to the conclusion that we have 365 days of sunshine a year, you don’t have to drain your pool because it’s going to crack in the winter like in the Hamptons, and you’re not paying $3,000 or $4,000 a square foot,” Flagg said.
Image via flickr/Atwater Village Newbie
Zillow Reveals Cities with Fastest Growing Rent
With rent prices increasing by leaps and bounds nationwide, you may – understandably – assume that cities like New York and San Francisco are getting hit the hardest.
But as it turns out, it’s smaller metro areas like Portland, Maine, and Jackson, Mississippi, that are getting the brunt of the hit.
In all, rent prices in Jackson have spiked 22.7 percent to a $1,196 monthly average over the past year, while Portland has seen a 17.4 percent increase in rental prices.
Image via flickr/Roger H. Goun
Overseas Buyers Account for $1B Worth of Real Estate Sales in Past Year
CNBC reporter Robert Frank revealed on Monday that overseas buyers have purchased more than $1 billion worth of American real estate in the last year.
Frank cited the National Association of Realtors’ latest data, which found that a record $104 billion worth of property – or 8 percent of total home sales nationwide – went to foreign buyers between April 2014 and March 2015.
Buyers from China were the most prevalent, with many of them purchasing properties in Los Angeles, San Francisco, Seattle and New York.
Image via flickr/Mark Moz
‘Boomerang Buyers’ Ready to Re-Enter Housing Market
Nearly 8 million borrowers have lost their homes to foreclosure or short sale since 2004, and now, a large portion of those former homeowners are ready to reenter the housing market.
“Lenders require seven years after a foreclosure and four years after a short sale for buyers to be potentially eligible for credit again,” CNBC reporter Diana Olick explains. “Now, about 700,000 borrowers are eligible for credit again this year and up to 2.2 million over the next five years.”
Approximately 1.3 million so-called “boomerang buyers” have already become re-eligible to buy, and of those, approximately 42 percent have done so.
Image via flickr/Images Money
